The U.S. Treasury has issued a proposed rule to implement Section 3 of the GENIUS Act, creating a framework for determining when payment stablecoin issuers must obtain a federal or state license. The proposal also addresses when digital-asset providers can offer or sell foreign-issued stablecoins in the United States.
The rules are expected to take effect alongside the GENIUS Act beginning January 18, 2027, while additional restrictions on offering or selling payment stablecoins in the U.S. take effect in July 2028. Treasury is seeking public comments for 60 days, giving industry participants an opportunity to weigh in on the proposed regulatory framework.
